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COORS RELEASES PRO FORMA FINANCIAL INFORMATION

 GOLDEN, Colo., Jan. 12 /PRNewswire/ -- Adolph Coors Co. (NASDAQ-NMS: ACCOB) today announced that it has filed a report on Form 8-K with the Securities and Exchange Commission (SEC) to make pro forma financial information regarding the company publicly available following the spin-off of its technology businesses.
 The newly available pro forma financial information is for fiscal 1991 and the 40-week period ended Oct. 4, 1992, reflecting results as if the distribution had occurred at the beginning of those periods. Copies of this financial information are available from the SEC or by writing to Coors Investor Relations, Adolph Coors Co. (AC450), Golden, Colo. 80401, or calling 303-277-7152.
 Adolph Coors Co. -- based on 1991 net sales of Coors Brewing Co., its principal operating subsidiary -- is one of the 260 largest publicly traded industrial corporations in the United States. Coors Brewing Co. operates the world's largest single-site brewery in Golden and is the third-largest U.S. brewer.
 ADOLPH COORS CO. AND SUBSIDIARIES
 PRO FORMA CONSOLIDATED STATEMENT OF INCOME
 (In thousands, except per share data)
 (Unaudited)
 40 Weeks Ended
 Pro Forma Adjustments
 ACX Pro Forma
 Oct. 4, Technologies Oct. 4,
 1992 Inc. (1a) Other 1992
 NET SALES $1,534,038 $448,549 $136,152(1c) $1,221,641
 Costs and expenses:
 Cost of goods
 sold 1,043,742 382,192 (1,155)(1b) 795,980
 --- --- 135,585(1c) ---
 Marketing, general and
 administrative 381,246 46,128 (159)(1d) 334,959
 Research and
 development 20,983 11,510 219(1c) 9,692
 Total operating
 expenses 1,445,971 439,830 134,490 1,140,631
 OPERATING INCOME 88,067 8,719 1,662 81,010
 Other income (expense):
 Interest income 442 2,008 17,524(1c) ---
 --- --- (15,958)(1e) ---
 Interest expense (13,056) (13,835) (17,524)(1c) (10,493)
 --- --- 6,252(1f) ---
 Miscellaneous - net (1,369) 347 101(1c) (1,615)
 Total other income
 (expense) (13,983) (11,480) (9,605) (12,108)
 Income (loss) before
 income taxes and
 extraordinary
 credit 74,084 (2,761) (7,943) 68,902
 Income tax expense
 (benefit) 30,700 (1,300) (3,700)(1g) 28,300
 Income before
 extraordinary credit 43,384 (1,461) (4,243) 40,602
 Extraordinary credit -
 tax benefit from
 utilization of capital
 loss carryforward 1,300 --- (1,300)(1h) ---
 NET INCOME (LOSS) $44,684 $(1,461) $(5,543) $40,602
 Per share information:
 Weighted average
 shares --- --- --- 37,542,000
 Net income per share --- --- --- $1.08
 See Notes to Pro Forma Consolidated Financial Statements.
 Note: The pro forma consolidated financial statements are presented
 for informational purposes only and do not necessarily
 reflect the earnings, results of operations or financial
 position of the company as they would have been if the
 distribution of ACX would have occurred at the time period
 reflected, nor do they necessarily reflect the future
 earnings, results of operations or financial position of the
 company.
 ADOLPH COORS CO. AND SUBSIDIARIES
 PRO FORMA CONSOLIDATED STATEMENT OF INCOME
 (In thousands, except per share data)
 (Unaudited)
 Year Ended
 Pro Forma Adjustments
 ACX Pro Forma
 Dec. 29, Technologies Dec. 29,
 1991 Inc. (1a) Other 1991
 NET SALES $1,917,422 $543,503 $170,158(1c) $1,544,077
 Costs and expenses:
 Cost of goods
 sold 1,332,201 449,061 (1,500)(1b) 1,051,028
 --- --- 169,388(1c) ---
 Marketing, general
 and administrative 505,519 71,378 (1,661)(1d) 432,480
 Research and
 development 28,419 14,167 --- 14,252
 Asset write-downs 29,599 --- --- 29,599
 Total operating
 expenses 1,895,738 534,606 166,227 1,527,359
 OPERATING INCOME 21,684 8,897 3,931 16,718
 Other income (expense):
 Interest income 983 2,552 22,644(1c) ---
 --- --- (21,075)(1e) ---
 Interest expense (589) (8,653) (22,644)(1c) (11,344)
 --- --- 3,236(1f) ---
 Miscellaneous - net 1,139 749 131(1c) 521
 Total other income
 (expense) 1,533 (5,352) (17,708) (10,823)
 Income (loss) before
 income taxes and
 extraordinary credit 23,217 3,545 (13,777) 5,895
 Income tax expense
 (benefit) (700) 2,200 (5,700)(1g) (8,600)
 Income before
 extraordinary credit 23,917 1,345 (8,077) 14,495
 Extraordinary credit -
 tax benefit from
 utilization of capital
 loss carryforward 1,600 --- (1,600)(1h) ---
 NET INCOME (LOSS) $25,517 $1,345 $(9,677) $14,495
 Per share information:
 Weighted average
 shares --- --- --- 37,413,000
 Net income per share --- --- --- $0.39
 See Notes to Pro Forma Consolidated Financial Statements.
 Note: The pro forma consolidated financial statements are presented
 for informational purposes only and do not necessarily
 reflect the earnings, results of operations or financial
 position of the company as they would have been if the
 distribution of ACX would have occurred at the time period
 reflected, nor do they necessarily reflect the future
 earnings, results of operations or financial position of the
 company.
 ADOLPH COORS CO. AND SUBSIDIARIES
 PRO FORMA CONSOLIDATED BALANCE SHEET
 (In thousands)
 (Unaudited)
 Pro Forma Adjustments
 ACX Pro Forma
 Oct. 4, Technologies Oct. 4,
 1992 Inc. (2a) Other 1992
 ASSETS
 CURRENT ASSETS:
 Cash and cash
 equivalents $17,862 $14,628 $53,743(2c) $56,977
 Accounts receivable 136,533 69,099 20,960(2b) 84,894
 --- --- (3,500)(2c) ---
 Inventories 276,842 95,265 2,133(2b) 183,710
 Other assets 113,549 28,693 --- 84,856
 Total current
 assets 544,786 207,685 73,336 410,437
 PROPERTIES - NET 1,307,322 403,128 --- 904,194
 OTHER ASSETS 113,584 29,648 459,539(2b) 83,936
 --- --- (370,796)(2d) ---
 --- --- (88,743)(2c) ---
 TOTAL ASSETS $1,965,692 $640,461 $73,336 $1,398,567
 LIABILITIES AND SHAREHOLDERS' EQUITY
 CURRENT LIABILITIES:
 Short-term
 borrowings $38,500 --- $(38,500)(2c) ---
 Accounts payable 111,139 48,409 25,650(2b) 88,380
 Accrued expenses
 and other
 liabilities 232,461 56,039 132(2b) 180,054
 --- --- 3,500(2b) ---
 Total current
 liabilities 382,100 104,448 (9,218) 268,434
 LONG-TERM DEBT 220,000 178,000 178,000(2b) 220,000
 DEFERRED INCOME TAXES 152,145 25,271 --- 126,874
 OTHER LONG-TERM
 LIABILITIES 78,320 32,965 --- 45,355
 SHAREHOLDERS'
 EQUITY 1,133,127 299,777 275,350(2b) 737,904
 --- --- (370,796)(2d) ---
 TOTAL LIABILITIES AND
 SHAREHOLDERS'
 EQUITY $1,965,692 $640,461 $73,336 $1,398,567
 See Notes to Pro Forma Consolidated Financial Statements.
 Note: The pro forma consolidated financial statements are presented
 for informational purposes only and do not necessarily
 reflect the earnings, results of operations or financial
 position of the company as they would have been if the
 distribution of ACX would have occurred at the time period
 reflected, nor do they necessarily reflect the future
 earnings, results of operations or financial position of the
 company.
 Notes to Pro Forma Consolidated Financial Statements
 (Unaudited)
 Note 1: The pro forma adjustments to the accompanying historical
 consolidated statements of income for the 40 weeks ended
 Oct. 4, 1992, and the year ended Dec. 29, 1991, are
 described below:
 (a) These adjustments eliminate the historical operations of ACX
 Technologies Inc. and its subsidiaries (ACX).
 (b) Cost of goods sold is adjusted to reflect changes in pricing
 under certain agreements between Coors Brewing Co. and ACX
 under which aluminum, packaging and starch products are sold
 to Coors Brewing, and brewery by-products are sold to ACX.
 (c) These adjustments reverse historical intercompany eliminations
 which are no longer applicable.
 (d) The company's general and administrative expense is reduced
 because of lower costs expected after the distribution.
 (e) Historical interest income is eliminated based on the
 assumption that cash and cash equivalents would not have been
 held for the time period reported.
 (f) Interest expense, net of capitalized interest, is reduced
 based on long-term debt of $220.0 million instead of
 historical short-term and long-term debt of $266.3 million at
 Dec. 29, 1991, and $258.5 million at Oct. 4, 1992. Interest
 expense on the long-term debt was based on an interest rate of
 9.0 percent. See note 2(c) for further discussion on the net
 debt position of the company.
 (g) Income tax expense is adjusted for pro forma adjustments
 (a), (b), (c), (d), (e), and (f).
 (h) Historical utilization of the capital loss carryforward is
 eliminated because ACX, and not the company, incurred the
 capital loss.
 Note 2: The pro forma adjustments to the accompanying historical
 consolidated balance sheet at Oct. 4, 1992, are
 described below:
 (a) These adjustments eliminate all historical assets and
 liabilities of ACX.
 (b) These adjustments reverse historical intercompany eliminations
 which are no longer applicable.
 (c) This reflects the company's assumed net debt position of cash
 and cash equivalents of $57.0 million and long-term debt of
 $220.0 million, as of Oct. 4, 1992, and subsequent to the
 distribution. The estimated balances for cash and cash
 equivalents, short-term borrowings, current portion of long-
 term debt and long-term debt are $57.0 million, zero, zero and
 $220.0 million, respectively.
 (d) This reflects the dividend of the outstanding shares of common
 stock of ACX to holders of Adolph Coors Co.'s common stock.
 -0- 1/12/93
 /CONTACT: Dave Dunnewald or Becky Winning of Adolph Coors, 303-277-2555/
 (ACCOB)


CO: Adolph Coors Co.; Coors Brewing Co.; ACX Technologies Inc. ST: Colorado IN: FOD SU:

BB -- DV001 -- 3975 01/12/93 11:31 EST
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